Fresh funds elude Vi, 5G service in limbo

Debt-laden telecom operator Vodafone Idea’s plans to raise external funds of over ₹20,000 crore may get further delayed and are unlikely to culminate even in the quarter ending March 2024, said two people aware of the development.

- Gulveen Aulakh

While the telecom service provider has been in talks with investors, including those from the US, the massive debt liability of over ₹2 trillion, besides limited amount of capital coming in from promoters, is being viewed as factors leading to the delay, one of the people said on the condition that he not be named.

"It will take time. The expectation was that funding would come in by the year end, but that is not happening. Whether it will happen in the next quarter is also uncertain," the second person said, asking not to be named.